supporters to pressure congress toincreasetaxesonthe wealthy by releasing a report estimating consumers could spend dplooerl $200 billion less in 2013 if no deal is reached. joining me now live from capitol hill is luke russert. luke, what are you hearing from senators regarding this? i note that chuck todd said we should expect some to go against the pledge. it's interesting to see what the house republicans say. >> that is the whole thing, tamron. sure, you're hearing the senate talking about moving toward a bipartisan deal. you're seeing concessions by folks like saxby chambliss and other folks, however, then tire debate comes down to negotiations between president obama and house speaker boehner. specifically what can he sell to the house republican conference. they've been very stubborn in terms of moving toward any significant raising of tax rates in order to garner revenue. we heard plans that they really do see a way forward with the combination of spending cuts, closing tax loopholes. this so-called vagueness we do not know the specifics oup, they're saying, folks, su

wants more in the $1.5 trillionintaxhikes,but he has no plan -- or announced cuts in spending, why those tax hikes don't add up to anything meaningful and we'll talk with the ceo of cke restaurants, andy puzder and says, tax rates will stifle economic growth and our favorite doctors are here, to psychoanalyze the scandal that brought down the head of the cia. we are delighted to be joined, now, by thedmiral james lyons, retired commander of the u.s. pacific fleet. it is always good to have you with us. thanks for being here. >> nice to be back with you, lou. >> lou: let's turn, to first, the talking points. which, it seems that no one after general petraeus made it clear there had been changes in those talking points, the testimony before congress has been surveyed, and congressman mike rogers, the chair of the house intelligence committee, said, it has to be the white house, because everybody else has testified that they didn't. do you agree? >> i agree. and, in that deputy's committee i'm hurry the white house representative and the national security, from the national security a

old party pass on a pledge, the vow never toraisetaxesnohow, no way, and today a way for a growing number of republicans to say, sorry, grover, it is over. that pledge we signed turns out it wasn't written in permanent ink. welcome, everyone, i am neil cavuto and don't look now but i think americans for americans for tax reform and the zealot could be pumped. grover norquist himself on what appears to be a revolt on the right, half dozen republican senators would have disown add pledge that isn't feasible now including oklahoma senator coburn, arizona's john mccain, south carolina's graham, idaho's crapo, tennessee's alexander, and georgia's sam bliss. it is not that they have all become antipledge, more like, well, antisweeping pledge. particularly the party of that pledge that called for resisting any move to end any tax break. to hear georgia's chambliss, too rigid, too inflexible, noting times have changed significantly, and i care more about my country than i do about a to-year-old pledge. if so, so what now? norquist in a second, to bob on republicans increasingly hap

have heard about it. it's the simultaneous convergenceoftaxincreasesand spending cuts designed to pressure lawmakers accepting other negotiated deficit reduction changes. it includes expiration of the bush era tax cuts that would effect everyone. expiration of the tax cut around for years can be called a tax increase. the nonpartisan budget office would bring in $1 trillion in ten years. on tap, 1.2 trillion in spending cuts for ten years. $100 billion in first year. half to defense programs. half to nondefense. cbo says going off the cliff would lead to a recession next year. we have fox team coverage tonight. ed henry is trying to read tea leaves on a day of mixed signals from all sides but we begin with mike emanuel on the possibility that g.o.p. lawmakers may put their oath of office above a promise to antitax increase organizer. good evening. >> good evening. the republican sources say they are offering a balanced approach of significant spending cuts and some revenue without boosting tax rates. >> we have been responsible as we remain firm on this point. no tax increases

taxes. theyall added revenues to deficit reduction. a significant amount of revenue. >> your colleague from georgia just this week said the following about that pledge not to raise any taxes. >> you know, that pledge i signed 20 years ago was valid then. it's valid now, but times have changed significantly.Ñi and i care more about this country than i do about a 20-year-old pledge. >> it is my view that the issue of taxes is the number one stumbling block to any kind of fiscal deal. that has to be resolved first before you can get to issues like sequestration. when you hear that from a colleague, does it say to you that there is room, and does the president do anything short of raising tax rates on the wealthy? is there anything short of that acceptable? >> well, you've got to raise additional revenues, including tax rates on the wealthy. >> those have to go up? >> they have to go up. there's ways of doing that. secondly, though, we've got to close some significant loopholes. for instance, the ones which allow too many corporations in this country to avoid paying taxes by moving revenu

fiscal cliff. you should know what is at stake if partisans don't figure out a way soon.bushtaxcutgoes away and that alone would drive taxup fo. the patches will die as well. so add in the failure of the super committee and sequestered $1.2 trillion. spending cuts of $600 billion in defense. why are we here? you can't blame revenues. americans forked over $2.3 trillion in taxes and fees last year. the taxaholics are stone cold drunk on our spending. spending is out of control. mr. president, waiting for you to stand up and show leadership. bob, haven't heard a thing. crickets. >> eric: i think you heard things. there is movement going on here. >> bob: i'm glad they're breaking away from norquist and say there is a need for revenue. i think whether that comes in form of limiting deductions to $50,000 for people making over $250,000 or -- >> eric: i can say. we will get to all of that. we'll get to the deals that may go on. where is obama's deal or his idea? his proposed, i don't know. the medicare, medicaid, reform to get the tax cuts. >> bob: there will be form of entitlement of i

taxratewill be on the game that we will make. only in grover's imagination does such a response exist. it is quite another when republicans talk like this. >> i am not obligated on the pledge. the only thing i am honoring is the oath that i take when i am sworn in this january. >> the only pledge we should be making to each other is to avoid the coming brief. republicans should put revenue on the table. >> i would have signed -- i will not attack japan today. the world has changed. the economic situation is different. connell: the man behind this pledge, it sounds like, at least the storyline is, that you are losing your considerable influence within the republican party. >> well, first of all, our friend warren buffett a to get a confident ghostwriter. it is counterfactual and it is counter historical. in his imagination, warren buffett goes to talk to people to invest with him. you have money. you have earned money. if the federal government takes it away, they do not have money to invest with warren buffett. there is a warm buffet line that has been introduced. it has introdu

spending on the table. republicans sang they're willing todotaxrevenueand that could be or would be the key to any agreement to avoid the fiscal cliff and get the country's books back in order. gerri: you will be covering this for a long time. thanks for that. this black friday wal-mart shoppers think protests, it is not a superstore workers on the picket line. jeff flock joins us with more. jeff: a few of them but the majority were not wal-mart workers but members of other unions like the teamsters, the uaw, it was built today as a demonstration against the notion of working on thursday on thanksgiving. the day before black friday. but the protest when it came down to it wasn't so much about that. was against walmart's practice of paying minimum-wage, not giving workers enough money in their view and about work rules. that is what the actual protests came down to. it was organized by organization called our walmart, the shadow union for the non-union walmart and well-organized by united food andommercial workers union which is trying to organize at wal-mart. take a look at what the com

-profile republicans that says he will break the longstanding pledgeregardingtaxesandsays he will do it for the country, but only if democrats are willing to make reforms on entitledment programs, medicare and medicaid and social security. that is big if. good morning, hope your turkey was great. martha: good morning, everybody, i'm martha maccallum. you've got this. congressman peter king and now senator bob corker say they will ignore the decades old pledge that was signed by 241 house members and senators. he says he believes it is a huge game-changer. >> when you're $16 trillion in debt the only pledge we should make to each other is to avoid becoming greece. republicans should put revenue on the table. we're this far in debt. we don't generate enough revenue. capping deductions will help generate revenue. raising tack rates will hurt job creation. bill: this is the heart of the matter. stuart varney, host of "varney & company". morning to you, sir? >> this is a real shift. one of the two sides had some movement in their position on the tax side of the debate. that side is the re

extendstaxcutsfor those earning $250,000 a year in social security. it will not be part of the fiscal cliff. so we are going to talk about the compromise. we have a congress and to talk about this with us. >> and you for having me cheryl: or a little bill? >> we were waiting and hoping to compromise with its administration. but they they would just never come to the table. >> these democrats want to continue spending on social programs, republicans don't want tax cuts to be touched. you think we can have compromise from both sides on each of these issues? the rhetoric that we are hearing on a television screen is pretty negative. >> he did say that we want and the republicans will reach out to less. cheryl: after the last election, the november election, it was a referendum on many republicans. some of them walked away and said, okay, we did not get the senate back, we are moving forward. our republican candidates did not win the presidency were many officers. >> people were looking round the waist deep in seeing a lot of their friends have lost. barack obama may have won the white ho

a dark fiscal cliff. a new government report warning is an increase intexataxeswodcrush the middle-class spending. the dow down 70 points. it seems republicans are changing their tune on taxes. i don't know. lou dobbs with us as more congressional leaders break from the antitax pledge. and two years after the signs in cairo they look the same. mohamed morsi moves for absolute power sparking violent clashes in the streets between his supporters and opponents. but first, it is time to check stocks as would every 15 minutes, let's head to the floor of the new york stock exchange. nicole, the market is down and out on the fiscal cliff. i'm afraid. nicole: there's a lot going on on wall street. selling across the board, down 72-point at the lowest .12900, so about 40 points off of the earlier lows, however we are seeing selling from sector to sector with its banks or drugs or retail. the areas that have been pretty good our technology, semi conductors holding on, utilities giving it a go after selling off on concerns of the fiscal cliff of his utilities is a group that paid high

-- host: welcome to "washington journal." of the senate host: an increase inpayrolltaxesandthe scheduled spending cuts across the board. a couple republicans yesterday signaled they could be flexible on the anti-tax pledge that they signed if it gets them closer to a deal with the white house. what is your reaction? here are the numbers to call. you can also find us online. send us a tweet or join us on facebook. you can also e-mail us. here's "usa today" looking at what happened on the sunday talk shows. it says -- the south carolina senator became the second republican senator in recent days to back away from a no tax pledge devised in the decades ago. the willingness to break ranks could prove crucial as gop leaders and democrats try to reach a deal before taxing and spending changes take effect in january. new york representative king says economic conditions have changed since the anti-tax pledge first emerged. he's a republican. that thee gop's say fiscal cliff deal is what defined grover norquist. let's hear congressman pete king of new york, a republican. he was on meet

republicans are slowly backing away from grover norquist's anti-tax pledge. saying they're open to letting revenues rise if democrats do their part in the budget talks. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming greece, and republicans should put revenue on the table. i will violate the pledge, long story short, for the good of the country only if democrats will do entitlement reform. >> a pledge you signed 20 years ago, 18 years ago is for that congress. for instance, if i were in congress in 1941, i would have signed the declaration of war against japan. we're not going to attack japan today. the world has changed, and the economic situation is different. >> so peter king is telling us, mike barnicle, not only is he going soft on taxes, he's going soft on japan. >> i know. >> it's not just peter king on the taxes. it's a big step, don't you think? >> it's a big step. >> grover. yeah, grover's taking a big hit since the election. there's no doubt about it. i think john, you'd verify this. number of republicans, i've

developments in the fiscal cliffhangerandtaxhikes.well, now the white house releasing a new report building its case for a middle class tax cut. this comes as a national poll finds that 2/3 of americans surveyed believe politicians will act like spoiled children during fiscal cliff negotiations. while only 28% believe lawmakers can be counted on to behave like responsible adults. chief white house correspondent ed henry has the joy of living and reporting amongst the children. i'm not sure what that makes you but you are a chief white house correspondent so what is the latest? >> reporter: there is a still a little kid in all of us, jenna. the bottom line the negotiations are obviously reefing a critical stage. white house is trading to take advantage of cyber monday, retail holiday today to put out the report you mentioned to suggest retailers will take a particular hit if they face these automatic tax increases and spending cuts that will be kicking in at the end of the year if there is no action by the white house and lawmakers on capitol hill working together. bottom lin

morning, everyone, several leading republicans say they will putmoretaxrevenueon the table. that's a shift. warren buffett says raise tax rates on incomes over a half million dollars, that's a shift. but the president and democrats are not moving and they still say raise tax rates on the rich. on-line shopping, a very big winner and very big for retailers. 13% better than last year overall. today, on-line sales may run close to 2 billion dollars. will it last through the holidays? we've got another north african economy in absolute chaos. egypt torn by rioting after morsi takes dictatorial powers. they really need our money now. watch out, everybody, "varney & company" is about to begin. get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement peopl who are paid on sary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science.

taxcutson consumer spending. as we know with all of this talk of the fiscalcluftaxcutsare set to spike at the beginning of next year. according to the new report allowing middle class tax rates to group, along with allowing the current tax cut to expire would change the gdp. this is all part of the president's effort to extent the burr-era tax cuts for americans making less than $250,000 a year, all while incriesing taxes on the wealthy. it seems some members of the dgdp could be coming around and be ready to go against the grover norquist pledge. more bill press after the break. stay with us. you're about to watch an viewer created ad message for little caesars who proudly salutes united states veterans everywhere. >> clarksville is a small town on the tennesse/kentucky boader and it is a really great place to raise a family. my name is lloyd allard i was a chief officer in the special forces, i was in the army for 23 years. i have made 1400 parachute jumps. well, my experience in the military was varied. i spent a lot of time in iraq, a lot of time in kuwait. i did two tours

the people and not to him, that's what he's known for. >> his power comes fromthistaxpledge.the last thing that he can afford to see more republicans peel off. if they do, then he can't get the next person to sign that pledge. >> tomorrow on "starting point" we're going to be talking to race car driver danica patrick and star of "pretty little liars." cnn newsroom with carols can to casse tell low begins now. >>> horror in bangladesh. two giant clothing factories there go up in flames. they might have made the clothes that are in your closet right now. thousands of workers protest the deaths of their colleagues. were safety warnings ignored? >>> republican rebellion? lindsey graham the latest lawmaker to buck a powerful gop lobbyist and his anti-tax pledge. we'll have the view from the edge of the so-called fiscal cliff. >>> one of the most recognizable voices in hollywood lends his voice to a pro-same-sex marriage ad. >> freedom, justice and human dignity have always guided our journey toward a more perfect union. now across our country, we are standing together for the right o

liberal democrats now say they would rather see a series ofautomatictaxhikespunish all americans rather than to agree to spending cuts or deals they don't like and they believe compromise their principles. this comes despite warnings from the congressional budget office that the tax hikes now about to take place could throw the economy back into recession. two million more americans could be left out of a job and most troubling of all according to the pentagon, the country's national security would be in serious jeopardy. if congress and the white house do not act. chris stirewalt is our fox news digital politics editor p.o.w. or play on foxnews.com. they cut the deal that put the automatic spending cuts in place and these automatic tax hikes in place thinking this will never happen. they went back, said all right, now that we have it in place let's try to fix it. well they failed. there wasn't the political will to deal with it at the time they passed. there wasn't the political will at the time they tried to deal with it and it was a complete political debach kill. now you have

. part 1, a new report out today showinghowtaxhikefears could impact consumer spending during the all-important holiday shopping season. part 2, the president's plans to take the issue straight to the voters and campaign style appearances and the use of an army of campaign volunteers to sell his message on tax hikes. the hope, that the coalition that put president obama back in office will help him ramp up the pressure on congress to make a deal. joining me now, chris van hollen and also a member of the house budget committee, congressman, good morning to you, sir. >> good morning, craig. great to be with you. >> the national journal reporting that the president could hold events related to the cliff this week. what are you hearing? >> well, i think that's right. i don't think anything has been settled. there have been on going conversations, but obviously the discussion will heat up this week now that the thanksgiving is behind us. >> what does the white house hope to accomplish with these types of events? >> well, look, this was not a side issue in the campaign. throughout the l

taxchangesin order to get some sort of a deal done. kelly wright joins us with more on what it means for the negotiation. we could be looking at possible tax hikes, isn't that right? >>> oo the government is on automatic pilot. that is five weeks away. for congress there is much work to be done and more compromise to be made in order to avoid the fiscal cliff. it will require give and take negotiations particularly on raising taxes but republican law americas who pledged to not vote for anything with a tax increase now appear ready to relinquish that pledge in order to avoid the looming fiscal crisis. >> when you are $16 trillion in debt the only pledge we should be making to each other is to avoid the grief and republicans should put revenue on the table. >> so everything is on the table and campaign raising taxes on the wealthy is relying on treasury secretary tim geithner. his team will works on issues like medicare even social security. they hoping to avoid a repeat over raising the debt ceiling in 2011. they hope the geithner team can reach an agreement with all of the parties i

cutsandtaxincreasesare just a matter of only a few weeks away for everyone. i'll ask a top member of the republican leadership if there's any room for serious compromise. >>> and if you own a home, deductions that save you money every year could be changing or simply going away. we're taking a closer look. >>> and ballpoint pens that hide poison needles and poison bullets. they sound like props in a cold war era spy movie. but they're part of a real assassination plot. we have details. i'm wolf blitzer. you're in "the situation room." >>> we're just 36 days away from the painful across-the-board spending cuts and tax increases people here in washington are calling the fiscal cliff. today, we have new proof that people across the country not only are aware of what's going on, they're very, very worried. our new poll shows 68% say the country will face either a crisis or major problems if the cuts in taxes aren't avoided. and a whopping 77% say their personal financial situation will be affected by a failure to solve the fiscal cliff problem. despite this nationwide sense of

the of consumers but will the possibility ofhighertaxslowthem down? we'll talk with matthew shay of the national retail federation and john sweeney of fidelity investments. plus the holiday is over and the white house and congressional leaders try to make a deal. we'll ask our sunday panel if negotiators can reach a compromise to avoid the fiscal cliff. and a thanksgiving tradition, our power player of the week has me dancing with turkeys. all, right now, on fox news sunday. ♪ >> chris: and, hello again, from fox news in washington. on this holiday weekend, we are watching several major foreign policy developments from egypt, to gaza. to the continuing controversy over the benghazi attacks. here to talk about it all is senator john mccain, and, senator, welcome back to fox news sunday. >> thank you, chris, dancing with turkeys? >> chris: you have to wait until the end of the show to see. >> i thought we were doing that now! >> chris: president mohamed morsi, gave himself almost unchecked powers and sent thousands into the streets, the people who have been helping to topple

having on the giveaway. david: and economic advisors warningmiddle-classtaxratesto rise and failing to catch could cause consumers to spend $200 million less than they normally would next year. coming up chairman of the president's council of economic advisors joining us to talk about the fiscal cliff and whether we will go over it. liz: do not miss it. but first what drove the market with today's data download. the nasdaq the only major index. still a pretty rough day on light volume. the dow and s&p ending lower the s&p ending lower with isn't a step in the longest winning streak in more than three months. tech and utilities were the top performing sectors while telecom and energy lag behind. we were talking about natural gas prices tumbling 4% today on warmer weather. forecasters warning of a warm start, but still expected to be much colder than last year. a lot of people betting it would be $4 at this point, if not. factory activity among the manufacturers falling back into contraction this month on bigger than expected drop as the federal reserve said activity index fel

raisetaxesaspart of a solid compromise to avoid a fiscal cliff. >> i would opposed toraisingtaxratesbut i believe we can close a lot of loopholes. we can do things to e-- in fact, two other things. one, things like like a limit on the amount of deduction of charitable giving. a limit on the amount you can take on your home loan mortgage deduction and obviously we are going to have to look at entitle reform. entitlement. reform is the only way to get the debt and deficit under control. we've got to take it on. >> chris: let me ask you, you say you would consider more revenue but with loopholes -- >> there's so many of them. >> chris: you voted against the bush tax cuts a decade ago because you said too many of the benefits go to the wealthy, not the middle class. once they were passed you have changed your view and said i'm not going to oppose them. it you could get a deal for entitlement reform and take a chunk out of the national debt, why is the 35% top tax rate which you oppose sacred? >> every economist i respect says if you raise tax rates at this time -- the president sa

make sureraisingtaxesonthe wealthy is part of the deal. politico is calling them cliff jumpers. l good morning to both of you. >> good morning. >> let me play a couple of clips to start out about the pledge. >> i will violate the pledge, long story short, for the good of the country only if democrats will do entitlement reform. >> a pledge you sign 20 years ago, 18 years ago, is for that congress. if i were in congress in 1841 i would have supported declaration of war against japan. i won't attack japan today. the world changed and the economic situation is different. >> i am not oblg gate on the pledge. i was just elected. the only thing i am honoring is the oath that i take when i serve when i am sworn in in january. >> chambliss already made a similar statement last week. the question is is this a real softening of positions? does it give them room to make deal. >> two things. first, let's look at the real room being created. so far i haven't heard anyone say i am willing to raise marginal tax rates as part of a deal. they're arguing with the head of the antitax coalition about

both sides of the beltway to maintainbush-erataxratesfor the poor and middle class, while letting those lower rates expire for higher earners. this morning, the white house put out numbers claiming if we fall off the cliff, consumers will be spending less money next year. how much less, exactly? $200 billion in fiscal 2013 alone. that would be a huge, huge hit on retailers. now, tax hikes are the biggest part, but not the only part of the fiscal cliff. seeing it as a fiscal cliff, the new year will also bring more than $100 billion in spending cuts, if -- if congress and the president can't agree on some other course. all of this brings me to my friend, cnn's christine romans with details on the toll on consumer spending. we threw out the number, $200 billion. what does that mean? >> it comes straight from the white house, trying to ride the coat tails of black friday weekend when throwing around how much money consumers spent over the past four days. the white house is saying, if these tax cuts go away for the middle class and taxes rise and the amt patch goes away and ta

, not only is thereataxadvantageyou're picking up significant yield. >> michael, what would you buy here? >> how about this, gold? let's bias sets where people will be nervous and flee to assets that give them some sense of comfort. i think gold will be a $2,000 an ounce trade sometime in the next 12 months. again, i also agree you need to buy -- you should not buy treasury. i think treasuries are a bubble waiting to burst. i like municipal bond trade. i like intermediate to short term average quality corporate bonds where you're not really paying so much for the high corporate quality rate. i think you can get better yields. as russ mentioned, absolutely, investors are going to have to have some money in fixed income. you can't set in cash at zero percent, it will kill you from an inflation point. >> i've been at cnbc since 1998. sing the piece of advice given over and over is whatever you do, don't buy the long end of the treasury curve because it's a bad investment. and yet it has been the greatest investment. at some point that's going to change, mary, right? and then what?

to sign a pledge from somebody else. >> what they're talking about againistaxrevenueand the house speaker has talked about it. mitt romney campaigned on it. >> lowering deductions and closing loopholes. >> eliminate or limit rather deductions and credits and exemptions. cutting out the exemptions and loopholes. >> grow this economy and engage in tax reform. >> simplify the code. >> ywhen you get divorced, thats what happens. ♪ >> welcome back after the thanksgiving holiday and all eyes are on the fast approaching fiscal cliff with republicans possibly maybe looking to make a deal. with the deadline now just 36 days away, some top republicans suggest they could, shock, horror, break with their sacred pledge to grover norquist. >> i'm not obligated on the pledge i made tennesseans aware is just elected that the only thing i'm honoring is the oath that i take when i serve when i'm sworn in this january. >> there's a lot that has been said about this pledge, and i will tell you when i go to the constituents that have elected -- re-elected me, it is not about that pledge. it re

alternativeminimumtaxhehad been talking about for the really wealthy. >> 30% or something. >> anybody from 1 to $10 million. also talked a little bit about raising the -- >> same thing he's been saying all along. >> he added that when it comes to who should be paying the higher taxes, he wants the threshold to be $500,000. >> and you see steven rattner on on talking about capital gains, deductions and things you've talked about a lot. >> time for the global markets report. ross westgate totally still confuse aed about thanksgiving and pilgrims. what was all the hoopla about? you celebrate boxing or something, don't you? like we lost a great boxer. is that what you celebrate? what is boxing day? >> boxing day, the day of a christmas. >> you wrap all your presents in boxes? >> i think it's something to do with all the presents. i'm not quite sure. >> yeah, put them in boxes. >> maybe. >> so you ignored our thanksgiving. but feeling okay again? >> yeah. you know, it's okay. it's all right. it's gone. now we can concentrate on the run up to christmas. and how much shopping we have to do.

the weekend when some republicans again repeated their openness to being willing toraisetaxes, whichis something that is violated republican orthodoxy. here is jay carney just a few minutes ago in reaction to those comments. >> some of the comments you mentioned are welcome. and they represent what we hope is a difference in tone and approach to these problems and a recognition that a balanced approach to deficit reduction is the right approach. it's the one most beneficial for our economy. >> reporter: the president's trying to take advantage of that different tone. he talked to speaker boehner over the weekend by telephone. and today you've had two business leaders, john engler, tom donahue, in to meet with senior white house officials. they're trying to keep this going. aides on capitol hill tell me no substantive progress in negotiations just yet. they're just now getting back to work after thanksgiving. >> how does that make you feel about the market? does it make you feel like they have more kum-bi-ya going on in washington, d.c.? does it make you more willing to invest

while there may be a bi-p t bipartisan consensus toraisetaxesonthe wealthy, the sides are still far apart on where the revenue will come from. staff level negotiations are a little bit more than stalled. not fully stalled but they didn't go so great last week and it's unclear where speaker boehner will get the votes for a deal that would raise tax rates. which is why he's pushing against that idea. two senate republicans up for re-election in 2014 have bucked norquist saying they are willing to let taxes ride. chambliss spoke to his hometown station. >> that pledge i signed 20 years ago was valid then. it's valid now, but times have changed significantly. and i care more about this country than i do about a 20-year-old pledge. >> on sunday south carolina senator lindsey graham also broke ranks saying the norquist pledge can no longer be a conservative litmus test. >> when you're $16 trillion in it debt, the only pledge we should be making to each other is to avoid becoming greece. but i will violate the pledge, long story short, for the good of the country only if it democrats will

everybody, our start start this morning the fight over the cliff intensifies. remember thatnotaxhikepledge. new signs that the gop may be starting to rebel from that. maybe a compromise before the 35-day deadline passes. and congress gets back to work this morning. plus a power grab in egypt. mohamed morsi under fire for granting himself extraordinary powers. will that affect cease-fire talks between israel and hamas? they're happening in egypt today. >> and $59 billion! retail records broken as americans crowded stores for some competitive shopping over the weekend. and now cyber monday is here. will shoppers be in even more of a spending mood? >> you want to talk about money? a new powerball jackpot. a new record in the cash payout. it's unreal. >> a packed two hours ahead for you this morning. new jersey congressman bill pascrell will be joining us, grover norquist, jamie rubin, dr. hanan ashrawi, will be our guest, peter billingsley from a christmas story, and grinle college hoops star jack taylor. remember him? big game he had the other day. and the one and only tony benne

middle class americans would freeze the economic recovery. obama's plan includeslowertaxesonthe first $250,000 earned by every american and tweaking the alternative minimum tax. the white house report estimates that consumer spending would fall by $200 million. now that's more than three times what consumers spent just over this entire holiday weekend. there could be a drag on a range of industries from cars and housing to restaurants and supermarkets, if congress can't reach a deal. and look, pocketbook issues are not the only problem here. carl levin, the democratic senator and chair of the armed services committee said automatic cuts to government spending could impact public safety. >> i think you should be worried if you have a defense job and we all ought to be worried whether we are dependent upon other aspects of the federal budget. whether we're worried about the regulation of our food safety, whether we're worried about our borders being secure, whether we're worried about fbi being supported, it's all affected by sequestration. >> joining me now, cnbc washington repor

opposition to increasesintaxrevenue.nottaxratesbut revenue. here's two senators in interviews over the last two days. >> i agree we shouldn't raise rates but i think grover is wrong whether it comes to we can't cap deductions and buy down debt. what do you do with the money? i want to buy down debt and cut rates to create jobs but i will violate the pledge, long story short, for the good of the country, only if democrats will do entitlement reform. >> i'm not obligated on the pledge. i made tennesseens aware. i was just elected. i made aware the only thing i'm honoring is the oath i take when i'm sworn in this january. >> both of these senators are saying they aren't going to be browned by grover norquist from americans for tax reform. this is an issue bigger than norquist. the republican party has positioned itself as the smaller government, anti-tax party. but they've lost an election and it appears that republicans in the senate will see about the house, already to give some ground. >> john, thank you. that's good news. looks like at least some may be ready to rise above the par

carefully and respond to what he said. >> tom harris. >> the first of myconstituency,taxdueon time. revenue of four billion pounds and last year less than 1 million pounds in patents. the government has issued a claim for unpaid taxes, will he allow us toraw the wrong conclusion about whose ideas on? >> the hon. gentleman makes an important point about making sure companies make their contbutions and fair tax payments and our country. we put 900 lbs. specifically into revenue to make sure we do properly get individuals to pay their taxes and yesterday i announced one of the key priorities of the g-8 which i will be sharing, in northern ireland in june of next year. and get proper international agreement paying taxes properly. >> to my right hon. friend, a preschool opening next year. one of a most deprived to provide a letter for social mobility for young people. a great tangible assets but what the government is doing in terms of education. >> very kind invition for my hon. friend. and all of the 78 preschools that have been established over the last two years making good progress

made onraisingtaxes, colinkaepernick made the start today. >> after a wonderful weekend, mild temperatures, the storm door opens by mid-week and we're talking a series of storms with wind and rain what are you doing there? i am making crescent bacon cheddar pinwheels. wow, i'm impressed! [ ding ] dad, the cable's out! you got that right? [ kiss ] thank you ♪ [ male announcer ] pillsbury crescents. let the making begin. here's a better idea. pillsbury grands! flaky layers biscuits in just 15 minutes the light delicate layers add a layer of warmth to your next dinner. pillsbury grands biscuits let the making begin. >> ama: republicans are considering raising taxes to reserve is the fiscal cliff. it's a big change for those who swore an oath they would never raise taxes. david curly tells us why they are working on the change. >> with some of the holiday shopping done, president obama may be getting a gift from some republicans. republicans who signed a pledge never to raise taxes. this morning, a leading senator. >> i will violate the pledge, long story short, only if democrat

here, if the house doesn't act, if the president doesn't act, in unison,yourtaxesaregoing up come january 1st to help raise revenue to pay down the national debt. stay with me here for a moment because we'll show you exactly, you know, how much your taxes will be rising. but here's the thing. it doesn't have to happen, this predetermined jump in income taxes and the new parlor game on capitol hill is to pick the next republican, follow me here who is willing to break a no tax pledge made to a very powerful lobbyist, in order to cut a deal with the democrats to focus the pain of new taxes on the wealthy. see this picture? see these three guys. here is yet another republican speaking just this morning. >> i'm not obligated on the pledge. i made tennesseans aware i was just elected that the only thing i'm honoring is the oath that i take when i serve when i'm sworn in this january. >> so republican senator bob corker is saying his oath of office trumps any no tax pledge made to washington lobbyist grover nor quist. republican saxby chambliss says he cares more about america and the f

grover norquist, condemning his pledge never toraisetaxes. >>when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming greece and republicans should put revenue on the table. >> how's that for a profiling courage? senator graham is standing up to a pledge he made to an unelected official in charge of a group that most americans never heard of. a pledge that's 26 years old. but at least graham is voting to raise taxes on the wealthy. right? wrong. >> raises tax rates will hurt job creation so i agree with grover we should not raise rates. i will violate for the good of the country only if democrats will do entitlement reform. >> so he won't raise tax rates and entitlements need to be gutted. but that's more like it. let's see some more brave talk from the gop. >> i'm not obligated on the pledge. there's a menu of options on the revenue side and on the entitlement side and as long as there are two parties that are willing to solve this problem, this is a very easy thing to do technically. what it takes is political courage. >> guess

about the political driver.howtaxeshavefallen comment the culture becomes more open to high ceo compensation. deregulation, but it is a real mistake to ignore the economic drivers. there are very powerful economic drivers that are obvious. globalization, a technology revolution. it is keira -- clear though-- those are key drivers because of the global phenomenon. american discourse tends to be american. would raise a income of inequality with one lot past and that eighties how does that rise in canada? france, germany, united kingdom? it is important to face that squarely. as a political phenomenon the challenge is the benign forces i am a google addict but they are drivers of social and political consequences. i like to look at it from a quote from peter orszag that the big drivers are economic forces particularly in the united states politics to mitigate these economic forces has exacerbated. so to create much more concentration will try to soften the blow. instead it is the excel arab. who are the super rich? what do they think about the rest of us? the way i will lead charac

. that's a nice thought. a number of republicans are finally putting limits on theirnotaxpledgeand telling grover norquist to get lost. but remember, there's only one of those people in the houpts. >>> keeping home and change alive. president obama's aits are hoping to keep the campaign going and use their new leverage at the polls to bin the fight for higher taxes against the wealthy. >>> this is "hardball," the place for politics. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> get ready for some more partisan agendas in the state governments across the country. that's because some january at least 37 states will be under single party control. 37 of them. with one party holding both houses of state legislatures and the gov

. melissa: here is what is "money" tonight. warren buffett'splanstaxhikecritics claiming that higher rates would not put a freeze on investing. is the oracle of omaha having of false prophecy? 220 men join us with the reaction. egyptian president makes a power grab that could make a feral blush. violent protests break out. will they bring mideast turmoil to new heights? one of the reasons top experts. getting a pink slip for not getting a flu shot. one employer fires all workers refusing to get the flu vaccine. is it legal? could more businesses follow suit? if even when they say it's not, it's always about "money." ♪ melissa: first, let's take a look at the day's market headlines. fiscal cliff years made a comeback and strong retail sales are not enough to offset the concern. the dow closed down 42 points. facebook shares some other best in four months. two formerly bearish analysts upgrade their outlook citing increasing revenue from mobile ads. and as our own charlie gasparino first reported, mary schapiro stepping down as chairman of the sec. officially leave office on d

republicans break a pledge overraisingtaxes? adecade's long pledge? >> now you see a little wiggle room. everyone, came out strong. now getting done to nitty-gritty of compromise here. perhaps backtracking here. get something done. look for language difference between tax rates and tax revenue as the debate moves forward there. >>> also this morning, the promises made to students by private for-profit colleges. did recruiters know and bend the truth about the job market to lure students to sign up for classes? a lot of reporting in recent years about what is going on with for-profit colleges. some of it kind of scary. we'll delve into that. >> we'll hear more in the next half hour. >>> later, the legendary rolling stones begin their concert tour, celebrating 50-year search for rock 'n' roll satisfaction. the first of five concerts. >> i could watch mick jagger dance all day. i think that's poetry in motion when mick gets on the stage and he's prancing around there. you can't beat that. that's americana at its best. >> better moves. rob nelson? mick jagger? >> no one's in mick's league.

republicans said they will back downontaxesaslong as there is one condition. >> steve: this time the white house has a better idea. wait until you hear who they are bringing back to lead the negotiations. yimpt powerball jackpot. $425 million . if you think you are more likely to get struck by lightning than win it big. the guy who won eight times who has the secret. >> steve: does he have the numbers. >> brian: "fox and friends" begins now. >> steve: hi, folks, live from studio e. i am sick of turkey. and i am sick of gravy. we had it five-days. >> gretchen: i know, i have a big huge bird sitting in my refrigerator and attempt to make soup out of it later today. >> brian: so it is not alive. >> gretchen: it didn't gobble. >> brian: i went to the movies and i have another movie. >> gretchen: i saw santa claus over the weekend. >> brian: ian loves it. i will tell you in a while. >> gretchen: no. >> brian: steve, saw one of my recommendations on saturday and you feel. >> steve: i am stopping to listen wu. >> gretchen: can you tell us now. >> steve: some of his movies i like a lot. >> g

, a seriesoftaxcutswill expire. there will be spending cuts and there will be jobs lost. john harwood with the latest from washington now. john? >> tyler, i'm pretty sure those congressional leaders' bellies were full even before thanksgiving. as you can see from the meeting they had just before the thanksgiving break, they were off to a smiling start with the president of the united states but there hasn't been much progress made since then. let's go over the fiscal cliff by numbers. first of all, they're all one. there's one month left before we go over the cliff if nothing is done. two, there's 1.4 percentage points that the white house says would be shaved off of gdp if middle class taxes go up between now and then. there's about $1 trillion which a democratic aide in the senate tells me they would need for a down payment deal to be done by the end of the year with the remaining three-quarters of the deal to be done early next year if they're going to get one. finally, there was one phone call over the weekend between president obama and house speaker john boehner. now i j

contribute to 52% of the total salesoftaxespaidby businesses in the city. it's also important to note for every $100 spent locally owned independent businesses generate $68 iní%( z5 local economic act, and that compares to only $43 by the national chains or chain stores. joining the small business commission, office of small business, and our local partners, women impacting public policy, the san francisco chamber of commerce and sf travel, i wanted to urge everyone to shop locally during this holiday season. and we wish everyone a great and your holiday with your family friends and loved ones. i also wanted to invite people out on thursday, december 6, that's thursday, december 6, in the evening for our annual clementine, join the merchants from the green apple bookstore to park lifee÷jc- gallery and fy notions small businesses like foggy notion as we celebrate the holidays with our great clement street businesses. thank you. >> clerk calvillo: thank you. president chiu. >> president chiu: first of all i'd like to adjourn today's meeting in recognition of the passing of ellen farll

up with a deal to prevent automatic spending cuts andexpiringtaxbreaksjust into fox, the white house spokesman, jake carney, reports president obama spoke with the house speaker boehner and the senate majority leader harry reid over the weekend. still, concerns of the crisis and the european debt crisis sent stocks down but not precipitously but down. we are seeing signs of progress in washington, dc, with rare bipartisan consensus on raising taxes on the wealthy but they remain at odds over the specifics. in other words, exactly highway do you do it. and mike emanuel is live on capitol hill. the white house is expressing putting pressure on congress. >>reporter: a report on the impact if the bush tax cuts are not extended. the study says the typical middle class family will see taxes go up by $2,200 next year affecting businesses and retailers. the argument is the families will spend less and it will hurt the economy. >> you can see it across housing, and services, and things like paying for cell phone, groceries, durable goods, auto purchases. evidence like this is a reason w

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